Chinese stocks end lower, weighed by electronics sector

China’s stock markets declined on Wednesday, pulled down mainly by electronics firms.

The benchmark Shanghai Composite Index retreated 1.30 percent to close at 3,329.74 points, after a volatile session.

The smaller Shenzhen Component Index dropped 1.76 percent to finish at 13,428.40 points, while the ChiNext Index tumbled 2.13 percent to 2,644.14 points.

Turnover on the two main bourses was 978.5 billion yuan (US$141.9 billion), compared with 942.0 billion yuan in the previous session.

Most sectors were down on the day. Only the public utilities, transportation, food and beverage sectors closed up slightly.

Electronics led the day's decline, while the defense industry, commercial trade and leisure services were also among the top losers.

In corporate news, Ant Group, an affiliate of Chinese tech giant Alibaba, on Tuesday filed for a concurrent listing on the Shanghai Stock Exchange’s STAR Market and the Hong Kong Stock Exchange.

Regarding the recent market trend, Vanho Securities pointed out that the current market lacks a driving force for sustained upward movement, as macro fundamental data has yet to be verified.

In the first quarter, China's economy slowed down due to the epidemic and is now still in recovery.

Investors were also concerned about market liquidity and uncertainties facing Sino-US relations, the broker noted.